VanEck Oil Correlations

CRAK Etf

USD 34.40 0.15 0.44%

The current 90-days correlation between VanEck Oil Refiners and First Trust Exchange Traded is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VanEck Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Oil Refiners moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VanEck Oil Correlation With Market

Good diversification

The correlation between VanEck Oil Refiners and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Oil Refiners and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in VanEck Oil Refiners. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with VanEck Etf

0.62	VDE	Vanguard Energy Index	Pair Corr
0.62	OIH	VanEck Oil Services	Pair Corr
0.65	BND	Vanguard Total Bond	Pair Corr
0.61	DWAT	Arrow Investment Advisors	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL
MDEV		0.87	0.56	0.66	0.87	0.87	0.88	-0.78	0.57	MDEV
MDST	0.87		0.59	0.66	0.9	0.85	0.74	-0.86	0.69	MDST
MEDX	0.56	0.59		0.75	0.64	0.63	0.54	-0.68	0.71	MEDX
MEDI	0.66	0.66	0.75		0.78	0.75	0.58	-0.57	0.49	MEDI
MGNR	0.87	0.9	0.64	0.78		0.97	0.83	-0.87	0.67	MGNR
MISL	0.87	0.85	0.63	0.75	0.97		0.86	-0.86	0.66	MISL
DPST	0.88	0.74	0.54	0.58	0.83	0.86		-0.76	0.61	DPST
DRIP	-0.78	-0.86	-0.68	-0.57	-0.87	-0.86	-0.76		-0.9	DRIP
DRLL	0.57	0.69	0.71	0.49	0.67	0.66	0.61	-0.9		DRLL
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MISL	+ 0.97	MGNR
MGNR	+ 0.9	MDST
DPST	+ 0.88	MDEV
MDST	+ 0.87	MDEV
MGNR	+ 0.87	MDEV
MISL	+ 0.87	MDEV

High negative correlations

DRLL	- 0.9	DRIP
DRIP	- 0.87	MGNR
DRIP	- 0.86	MISL
DRIP	- 0.86	MDST
DRIP	- 0.78	MDEV
DRIP	- 0.76	DPST

VanEck Oil Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Oil ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze VanEck Oil's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MDEV	0.98	(0.05)	(0.03)	0.09	1.39	(1.01)	2.04	(2.05)	11.39
MDST	1.00	(0.14)	0.00	(0.02)	0.00	0.00	2.08	(2.04)	9.87
MEDX	1.26	0.07	(0.06)	(0.10)	2.00	(1.19)	2.86	(3.09)	7.98
MEDI	1.28	0.06	0.02	0.22	1.70	(1.36)	3.03	(2.98)	10.35
MGNR	1.15	0.12	0.06	0.25	1.68	(1.30)	2.26	(1.95)	14.25
MISL	0.96	0.23	0.11	0.40	1.44	(1.06)	2.08	(1.85)	10.79
DPST	4.14	0.54	0.16	0.32	4.74	(5.07)	9.48	(8.09)	41.06
DRIP	3.85	(0.06)	0.00	(0.28)	0.00	0.00	7.98	(6.39)	43.85
DRLL	1.59	(0.03)	0.00	1.78	0.00	0.00	2.72	(2.81)	15.55

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